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Founder of Ethereum prediction platform Gnosis launches CirclesUBI, a "universal basic income on the blockchain" project

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The minimum viable "economy" of Circles is a group of 3-4 friends, who can give each other a UBI through Circle.

Rhythm BlockBeats news, on October 18, Martin Köppelmann, the founder of Gnosis, an Ethereum-based prediction platform, announced the official launch of CirclesUBI. He revealed that the project had been discussed and adjusted for 7 years until it was officially launched. He calls this CirclesUBI "universal basic income on the blockchain" or "a better currency."

CirclesUBI is a blockchain-based asset distribution method, even friends can grant Circles tokens to each other currency as economic income. Martin Köppelmann argues that money is best defined as a "social contract". Circles makes this very explicit. The minimum viable "economy" of Circles allows even a group of only 3-4 friends to give each other a UBI through Circles.

Martin Köppelmann explains CirclesUBI further:

1) A A voluntary basic income plan that does not require state intervention;

2) Fully decentralized assets, but fair in value exchange in time and space;

3) Mutual credit system, where the credit limit is set by default to make the credit fungible;

4) A peer-to-peer form of currency earning method, so that eventually the The economy is more people-oriented;

5) A mintable cryptocurrency that accompanies human life;

6) The combination of the original idea of Ripple and UBI .

< p line="coVs"> CirclesUBI completely adopts a decentralized solution to the sybil attack (Rhythm Note: We often call it Sybil attack). Previously, almost all other UBI blockchain solutions were in charge of a central agency, which Deciding who is/who gets UBI, CirclesUBI is different.

Regarding the token minting model, Martin Köppelmann explains: "Anyone can create an account and mint different Circles, 8 Circles can be minted every day, and the annual inflation is 7%.”